Excludes the school district foundation property tax imposed under Code section 257.3 from the division of revenue under Code section 403.19 (tax increment financing).  Authorizes school districts to voluntarily approve by resolution the payment from the school district's general fund to the municipality for deposit in the municipality's special fund all or a portion of the foundation property taxes levied for fiscal years beginning on or after July 1, 2027, against property located in the urban renewal area.